As to the existing registered companies, the latter are obliged to pay the respective annual levy by the 30th of June of each year. Nevertheless, for companies that belong in the same group, the sum of the outstanding levy shall not exceed the amount of €20.000,00- an amount that is distributed between them in equal portions. 

 

 

If a company delays to comply with its obligation regarding the payment of the requested levy by the 30th of June of each year, as explained above, but proceeds to such payment within two months of the above mentioned date, is subject to a charge of 10%. However, a company that delays the payment but proceeds to the payment of the levy within five months of the above mentioned date of each year is subject to a penalty of 30%. 

 

 

If a company does not comply with the obligation of payment of the annual fee within the above mentioned time limits and in accordance with the required procedure, the Registrar proceeds with the withdrawal of the company from the recording registry. This company may return ex officio and be registered again in the recording registry if the latter decides to pay the amount of €500,000 within two years of the date that the company was withdrawn from the recording registry. Further, a company may return ex officio, after the expire of two years from the time the company was withdrawn from the recording registry, and be registered again in the recording registry after the relevant correction by the registrar if the former decides to pay the amount of 750,000.